Can DOW hold the 100MA?

The ups and downs of the market are getting dizzying, but with these huge moves come opportuniities.

These are times when risk and money management should take front seat in your trading.

Today the DOW lost 387.17 points to close at 13,270.68 right on the 100MA on the daily chart. This is an important area to hold as the 100MA hasn't been breached since the Feb 27th downturn (and briefly last Friday) and it shares the same area as the current uptrend line. There are recent lows at 13,145 which may get tested in tomorrow's session. A break below may open the flood gates so watch that area carefully. If it holds that are then it's a temporary feather for the bulls.

A close below 13,145 would technically start to print a lower low on the daily charts and we already have a lower high. This would not confirm a downtrend, but it would certainly put a temporary end to the uptrend.

DOW Daily Chart